ModivCare Inc. (NASDAQ: MODV)

1. Introduction

ModivCare Inc. is a Denver, Colorado-based social services corporation that addresses social determinants of health (SDoH) through non-emergency medical transportation (NEMT), personal in-home assistance, nutritious meals, and remote patient monitoring. Founded in 1997 as Providence Service Corporation, the company utilizes data-driven solutions to connect payors, providers, and members with supportive care when and where it is needed.

2. Corporate Structure

• Headquarters: Denver, Colorado
• Employees: Over 10,000 (LinkedIn)
• Leadership:
  • Christopher S. Shackelton, Chairman
  • Heath Sampson, Chief Executive Officer
  • Kenneth Wilson, Chief Operating Officer
• Subsidiaries: ModivCare Solutions, LLC (wholly owned)
• Founding: 1997 (as Providence Service Corporation); later rebranded ModivCare Inc.

3. Recent Developments and News

• Share Price Movement (06/05/2025):
  • Closing Price: $3.12
  • Daily Change: +35.21%
  • Volume: 6,039,780 shares
• Form 10-Q (05/09/2025):
  • Period Ended: 03/31/2025
  • Trailing Twelve-Month (TTM) Revenue: $2.75 billion
  • Net Loss (TTM): $229.36 million
  • EPS (TTM): -$16.09
  • Total Cash (MRQ): $115.96 million
• Schedule 13G/A (05/14/2025):
  • Q Global Capital Management reported zero beneficial ownership of common stock as of 03/31/2025.
• Form 8-K (05/28/2025):
  • Items 5.02 & 9.01 disclosed changes in executive officers and supplemental financial information.
• Earnings Preview:
  • Next Earnings Date: August 5–11, 2025

4. Financial and Strategic Analysis

Metric	Value
Market Cap	$44.8 million
Enterprise Value	$1.32 billion
Price/Sales (TTM)	0.01
EV/Revenue	0.48
EV/EBITDA	5,270
Profit Margin (TTM)	-8.33%
Return on Assets (TTM)	0.42%
Return on Equity (TTM)	-951.52%
Levered Free Cash Flow (TTM)	-$72.89 million
52-Week Range	$0.87 – $32.82

• Revenue Streams:
  • NEMT, personal care, remote patient monitoring, and meal delivery, reimbursed primarily by Medicaid and other government programs.
• Liquidity & Cash Flow:
  • $115.96 million in cash; negative free cash flow of $72.89 million (TTM).
• Strategic Initiatives:
  • Data-driven platform MyModivCare for personalized transportation.
  • Acquisition of All Metro Health Care in November 2020.
  • Ongoing investment in technology to optimize trip completion and reduce per-member per-month (PMPM) costs.

5. Market Position and Industry Context

• Industry: Hospitals & Health Care services focusing on SDoH.
• Scale: Coordinates over 2 million rides per month.
• Network: One of the larger NEMT providers in the U.S.
• Partnerships & Recognition:
  • Collaboration with Aetna Better Health for Health Stations in Illinois.
  • Recognized as a provider of remote patient monitoring solutions.
• Competitive Landscape:
  • Competes with regional and national NEMT and home care providers.
  • Trends in value-based care and Medicaid expansion drive service demand.

tl;dr

As of June 5, 2025, ModivCare’s shares closed at $3.12, up 35.21% on a volume of 6 million. The Form 10-Q filed May 9, 2025, reported $2.75 billion in TTM revenue and a $229.36 million net loss. On May 28, 2025, the company disclosed executive changes via Form 8-K. Next earnings are scheduled for August 5–11, 2025, with a one-year target estimate of $4.78.